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Japan, South Korea seek to negotiate on tariffs before August deadline

SOUTH KOREA, JUL 8 – Japan and South Korea seek to reduce 25% U.S. tariffs starting August 1 amid broader trade tensions involving multiple countries, with negotiations ongoing to ease economic impact.

  • Dozens of countries, including Japan and South Korea, face new U.S. tariffs of 25% or more starting August 1, 2025.
  • The tariffs follow President Trump’s April announcement and a delay from July 9 to August 1 to allow more negotiation time.
  • Japan's lead negotiator Ryosei Akazawa spoke for 40 minutes by phone with U.S. Commerce Secretary Howard Lutnick, aiming to secure advantages for the country's major automobile industry while safeguarding the agricultural sector.
  • Stephen Miran, White House economic adviser, remains optimistic about new trade deals if other countries make concessions and EU warns it may retaliate if no fair deal is reached.
  • South Korea plans to intensify trade talks aiming for mutually beneficial solutions to mitigate tariff impacts and reduce uncertainty before August 1.
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Targets of Trump’s new tariffs speak out

Dozens of America’s trading partners are bracing themselves for August 1, the new deadline for punishing tariffs on goods they export to the United States.

·Atlanta, United States
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El Economista broke the news in on Tuesday, July 8, 2025.
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